Hello, Humble Dollar community!! This is my first post, please excuse me in advance if not as articulate as so many of you who contribute to this site.
I am wondering if any of you have recommendations or thoughts on simple DAF platforms for charitable contributions
I have some highly appreciated stock (APPL at ~$250/share with a very low basis) and use this for most of my larger charitable gifts. I am a devoted Vanguard customer and make direct donations thru Vanguard but tend to find the process a bit tedious – tracking down DTC number, verification that stocks are transferred and notification to the non-profits has caused me many headaches over the years.
I make many smaller donations ($100 or less) throughout the year and so AAPL at $250 won’t work for these donations.
I am planning to set-up a DAF for my smaller donations, probably $2-3k or less a year, and have been researching Daffy.org which seems like a great platform for transfer of appreciated stock (and even crypto). A DAFFY.org account is $3/month if transferred securities stay under $25k. Once I transfer securities, they liquidate and have options for me to invest.
Donations go to nonprofit as cash, not securities they need to liquidate, and are identified as coming from me. I can also set-up a charitable fundraising campaign for a non-profit.
There are a few other DAF platforms with low annual fees and minimum account balance that seem like good options. Of course, I could open a Vanguard DAF but this requires a $25k minimum transfer to open and minimum donations of $500/gift.
Any other recommendations? Daffy.org is only ~4 years old, Charityvest.org look like another simple platform with a $100 minimum annual fee. Thanks!!
I started using Daffy a year ago and have made about 6 contributions from my Vanguard account. Nice that I only have to use 1 DTC number for Daffy through Vanguard’s gifting process. To try out Daffy, I transferred a small number of Vanguard mutual fund shares to Daffy and donated part of the proceeds to a charity. Once I saw this work well, I was very comfortable contributing much larger amounts. You might try this with one or two Apple shares.
Thanks so much for sharing your experience with Daffy. I learned about Daffy from a Stanford Alumni webinar … this is link for anyone who may want a bit more information on DAF’s, this is open for anyone:
Everything Everywhere All at Once: Charitable Giving Edition on Vimeo
Welcome and thanks for your post!
To demonstrate the power of AI, take a look at this comprehensive comparison of various features of DAFs. Quite unbelievable, actually!
https://claude.ai/public/artifacts/98c3b7e9-a539-4f9b-91ff-96d3b76776f7